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Campaign against foreign reinsurers needs to stop: Insurance association

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The All-Russian Insurance Association has called on the government to stop local politicians from badmouthing foreign reinsurers, Xprimm.com reported. The association said that the campaign by Vyacheslav Lysakov and Sergey Shargunov, members of Russia's lower house, is aimed at severing relationships that local insurers have with foreign reinsurers. The Russian insurance market does not have the capacity to provide cover to big government enterprises and key manufacturers and requires cooperation with foreign reinsurers and brokers, the association added.

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